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at the president has done with the economy, it is very far reaching, just across the country women have access to capital to start small business, let's not forget his very, very first bill that he signed in to law was lily ledbetter fair pay act. it's a tremendous accomplishment. i think that shows his devotion and his commitment to women. >> first thing you have to ask is, what are women concerned about today, it's jobs, job security, opportunities for themselves and for their loved ones and in particular for their kidss there a brighter future. this is mitt romney's message to women to all americans. is that he is going to put in to place economic policies that will create growth which will create the jobs, be the energy to small businesses start growing again. >> we asked the experts whether reproductive rights is a decisive issue for women voters this year. >> it is for the barack obama campaign. they think that's the way they're going to keep their women. suggest that women would vote about who's going to pay for their contraception, that is more of an issue than are my loved ones workin
the economy. some of you may remember that bill clinton years on the economy were the best they had ever been in american history. it was the same old people that were taking advantage of circumstances that presented itself. that basically -- with a reduced electorate. no, i do not think they have a future. there is a congressman from georgia named paul brown who happens to be a doctor. he thinks that the big bang theory and evolution are works of the devil. you know, that is not the future. go to maryland, go to the maryland suburbs and look at the companies that are making billions of dollars doing genetic research. genetic research is all about evolution. >> are there additional questions? >> i just wanted to ask about when you saw effective black and latino alliances during the 2012 election? >> and the places where there were blacks and latinos living in proximity, all the states where there are both black and latino populations, in florida, virginia, less so in colorado. the black population is fairly small. nevada, definitely. the right in the country and especially the ultraconservati
majority of them said that taxing the wealthy was a majority of that. there are other issues on the economy. 70% to 20% said that they trusted the economy. that should not be their goal. their goal should be to hit the 40% level that w. was able to do. that will make them competitive. and they need to also created goal for blacks. they cannot conceive 97% of the black vote. start with 12%, 17%, something. they need to make inroads. is unrealistic to say let's go for hispanics. if they can get to the 38% range, they can be competitive. in the same way, we're talking about the democratic problem with whites. >> in 2013, there is a big deal. comprehensive immigration reform was taken off the table. how far does this get you with this next emerging electorate? what else does the party have to do to get back to the kind of numbers that bush saw? >> is a step in the right direction, but it is far from the whole thing. it is basically ronald reagan mindset that says we welcome anyone who shares our values and our desire for lower taxes. bill back and listen to some of ronald reagan's rhetoric. --
with the economy. and make sure we do not go back into a recession. but they do want to stick to their guns. they feel like they are really won the election and not to cave in to the republicans on the upper income tax rate. host: chicago, ill., let us go matt, hi. caller: my comment is this, in order for us to solve this problem, both sides are going to have to experience a pretty significant amount of political pain. from my side, i am a lot of the center, i would like to see texas go up on the wealthy. but at the same time, being from chicago i remember when the simpson balls report came out, and congresswoman should kautsky, she said this is horrible there's no way i will vote for this. and i did not think that was right either. clearly, we are going to have to do something about medicare. i am not in favor of the ryan plan. my overall point is, and unfortunately we have not seen this in the past few years, steve is coming more from the right than from my side, but the overall bank is that both sides are born to half to be willing to take on a significant amount of pain. i hope the will
when our economy is still recovering from the great recession, our top priority has to be jobs and growth. that's the focus of the plan i talked about during the campaign. it's a plan to reward businesses that create jobs here in america, and give people access to the education and training that those businesses are looking for. it's a plan to rebuild our infrastructure and keep us on the cutting edge of innovation and clean energy. and it's a plan to reduce our deficit in a balanced and responsible way. this is even more important because at the end of this year, we face a series of deadlines that require us to make major decisions about how to pay down our deficit -- decisions that will have a huge impact on the economy and the middle class, now and in the future. last year, i worked with democrats and republicans to cut a trillion dollars' worth of spending, and i intend to work with both parties to do more. but as i said over and over again on the campaign trail, we can't just cut our way to prosperity. if we're serious about reducing the deficit, we have to combine spendin
today make one more point about the type of campaign at that romney ran. focused on the economy and wanted to make the obama economy, but he woke up wednesday morning and probably saw an exit poll figure that had him devastated for people, 50% of the electorate still thought this economy was george w. bush's fault. it's astonishing. >> it's astonishing. >> and one of the failures, not making a distinction in the campaign, the theme explanation why he would be different than george w. bush. when we come back, the soul searching begins as republicans face another four years of a democrat in the white house and at least two more in the senate minority. what the party needs to do to regroup for 2014 and beyond next. to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? le
on the economy and wanted to make the obama economy, but he woke up wednesday morning and probably saw an exit poll figure that had him devastated for people, 50% of the electorate still thought this economy was george w. bush's fault. it's astonishing. >> it's astonishing. >> and one of the failures, not making a distinction in the campaign, the theme explanation why he would be different than george w. bush. when we come back, the soul searching begins as republicans face another four years of a democrat in the white house and at least two more in the senate minority. what the party needs to do to regroup for 2 2 2 2 2 2 >> another white house loss for the g.o.p. coupled with their failure once again to take back the senate. many in the party calling for change. what can republicans do to regroup for 2014 and beyond. jason, a wonderful time of the the season, called recrimination. (laughter) >> otherwise known to journalists as shooting the wounded, which is our specialty, so, what, how much trouble is the republican party in? >> they're in a lot of trouble, the coalition needs to expand.
money in washington. what's choking our economy and what's choking the economy of greece, but, entitlements are choking us and we've got to make the real reforms to make sure that we do it right. we protect these programs and thirdly, speaker boehner said it very well, i thought he showed great leadership that revenues need to be on the table. again, we need to do it in the right way. bowles-simpson said reduce the reductions where you can, lower tax raets by doing that. george, we got to get this economy going again. we have had an outside group ernest and young look at raising of taxes on the highest income earners. we would lose 700,000 jobs in america. is that the kind of economy that this president wants to start out with in his second term? i don't think so. president obama said two years ago, now is not the time with a sluggish economy to raise taxes. we need to consider the fact that folks who started raising taxes on the business creators. there's a right way to do this and there's a wrong way to do it. and speaker boehner was absolutely correct, you have to have reve
the entire size of our economy. there will be many who will say that we should confront the first of these challenges by letting the tax rates expire and pushing the sequester off to some other day. there would have disengage in the same short-term temporary policies that has helped put us into this fix. let's have more of the same. let's agree to a drive our economy off part of the fiscal cliff instead of driving it off the whole fiscal cliff and we will call it a day. that might get us out of town but it will not get us out of the problem. and it will hurt our economy. we cannot keep going on like that. we cannot keep setting the bar that low. it is time that we raise the bar. the american people did not give us a mandate to do the simple thing. they elected us to lead. they gave us a mandate to work together to do the best for our country. we know what the best thing is, an agreement that sends the signal to our economy and to the world that after years of hunting on the fiscal challenges we face, -- punting the fiscal challenges we face, 2013 is going to be different. if we wa
dead line sets up a stand off with the nation's economy hanging in the balance. a new congressional budget office report predicts a fall off the cliff. could send the unemployment rate skyrockets by the end of next year. with the books on his presidency already being written, but the second chapter yet to be lived, can the president find common ground with a deeply-divided congress and dodge economic disaster? >> it's a huge challenge for president obama, but also a huge opportunity. health care reform in his first term and putting the fiscal house in order for the next four generations as the signature achievement already? >> he's going to have to strike some deals. and he's going to have to make some grand alliances. >> joining me from the white house is kristen welker. explain the footprint we can expect to hear. >> reporter: good morning. i think that the president is going to try to achieve two things. first, to try to set the tone for his second term. your going it hear him make a call for bipartisanship. we heard some of that during his victory speech in chicago earlier this
everyone will be affected if there is no deal. it could throw the economy back into recession and cost no income families about $2,000 more next year. those are some of the latest headlines on c-span radio. [video clip] >> i enjoyed watching book tv -- >> i enjoy the rebroadcast of various television news programs. i like that they provide coverage without the sound bites. it really gives me an opportunity to consume as much information on what is going on. c-span is a great way to kind of get an unfiltered view of the day's events. >> c-span, created by america's cable companies in 1979, brought to you as a public service by your television provider. >> "washington journal" continues. ,ost: we're back with evan bayh now co-founder of the no labels organization. let me begin with the petraeus resignation. is your reaction -- what is your reaction? guest: it is if personal tragedy. he was doing a fabulous job as director. we're fortunate that we have a great leadership team. michael morrell house now now stepped- hasno in. host: did he have to resign? guest: my own answer is yeah, i thi
. >> the economy certainly is not keeping both on this thanksgiving. the latest trouble figures. how employees are fighting back against plans to open thanksgiving night. a plane crash sparked a massive fire in mississippi. what happened moments before the what happened moments before the >> > officials are trying to determine what caused a small plane to crash inside -- into a home last night. and one person escape the house with minor injuries, but it is unknown whether others were inside. officials say three people on the plane died in the crash. just after takeoff the pilot asked for permission to return to the airport. scary moments for a member of the zero well -- orlando magic stunt team. she balop the shoulders of another member of the squad. -- she fell off the shoulders of another member of the squad. she apparently landed head first. it took several minutes to stabilize hurt and get her on to the gurney. she waved to the crowd. she separate three vertebrae fractures and broken ribs but is expected to recover. still to come, the latest retail numbers are out, and it is not good. i ex
at stimulating the economy of the people's republic. but it seems like very few people in the west have noticed. i have to tell you, our big industrial stocks, they're trading at valuations that assume a depressed chinese economy, one that's not going to get any better. look, that's just wrong. it's not empirical. it's not rigorous. we just got some data overnight which showed that china's exports have climbed to a five-month high. that is not something you see from an economy that is about to crash and burn, is it? i'm not saying that china is fabulous and should be jumping for joy because of the state of their economic climate. but i am saying that the chinese negatives seem to be priced into all things china related. the chinese economy, i think, is in the process of bottoming. and based on what's been happening, i think it will have the kind of gentle, soft landing that very few investors, particularly the short sellers, are expecting. in other words, china is far from great. it's a heck of a lot better than the vast majority of people think. a lot of that is thanks to the chinese governmen
to the economy. >> and that is a huge deal. the fact that president bush is still getting blamed for the economy is something that clearly is showing up in those poll numbers. lou: we appreciate it. thank you. great work last night. president obama winning a second term as his party added to its majority in the senate, counting independent democrats could have a caucus of 55 members up from 53. among the most closely watched races, a democrat elizabeth warren beating republican incumbent senator scott brown. and in indiana, the democratic congressman, jim donnelly, defeating richard. in missouri democratic incumbent successfully fought off a challenge by congressman taught a kid who was not able to recover from comments about women's bodies and pregnancies of an absurd nature. well, in virginia democrat tim kane defeated former fellow governor george allen in thh most expensive senate race in the country. more than $82 million spent on the race. in the house republicans retain their majority with at least 2303 seats. the democrats' 192. ten races have yet to be called. the republicans 233 seats
, the economy. he says he is looking for a bipartisan solution to the fiscal challenges. >> i am looking forward to reaching out and working with leaders of both parties. to meet the challenges we can only solve together. reducing the deficit, reforming the tax code. >> fears of privy fiscal cliffs are growing. both sides are hoping to avoid another recession. at this point it does not seem they are on the same page on raising the issue. >> raising tax rates is unacceptable. >> democrats think the president has a mandate to raise taxes on families making more than $250,000 a year. >> there was a message sent to us by the american people based on the campaign. people making all this money need to contribute a little bit more. >> one of the big issues we are hearing, and a new congressional budget office report issued yesterday, it says if congress fails to act that the economy could shrink by about half of a percent. unemployment could go back up to 9%. the president expected to speak at 1:05 this afternoon. >> thank you so much. taxi rides could be more expensive on inauguration day. there are c
of your administration with an economy as lousy as the one you brought us to now with no sign of making it better. this is not make the economy better. does the tax increase go up? ?hat about the sequestered ta how is delighted to see an interview with direct quotes from mitch mcconnell appeared he said we're not raising taxes to avoid the sequester appeared out rather have the savings over a decade -- from mitch mcconnell. he said we're not raising taxes to avoid sequester. i would rather have the savings over a decade. i am not -- i would rather have the sequester them lose the savings. i would rather have a different ly structured sequester. we're not giving up savings. we either had the sequester or reconstruction it differently. ,hat i think you're going to do at the one thing he could have a compromise on, maybe the only thing you have a real compromise like theoneis republicans savings for the sequestered but they do not want to come out. the democrats theoretically would like the sequesters savings but they do not want to have domestic discretionary. they would both like to in t
that is divided, there was an earthquake. it was an election that, republicans should have won in a bad economy, with all that money, and they lost virtually every group. they even lost cubans in florida, which used to reliable vote. so you have to ask what does the republican party do next? but that is not my top priority frankly. >> don't broad brush it excessively. the republicans kept the house, the democrats kept the senate and the president, a democrat, kept the white house. that is a split verdict. >> beneath those numbers there was an earthquake john. >> oh, the hidden earthquake. nobody felt it? >> everybody feels it. >> nothing on the restrictter scale but there was -- on the scale. >>> when you think we had 23 million people unemployed and the worst in our history and he still carried it through. i would call it a landslide under the conditions he had to run. i think it was a decisive victory. >> it was on several counts. first the exit polling showed most of the voters did blame the economic problems on bush and they wanted to give obama more time to work on it. pretty significant c
colors. the election is over but the gridlock remains. why the clock is icking for america's economy.. 3 republicans maintain cootrol of the u-s house afterr pesterday'sseleetion.democrats control the senatee..and of it's been that way forrtwo yeaa. years. but ... the politicians... inability... to... agree on ...things like... the ...federal budget .../ or... how to control the debt, ../ may... be... just the start... of griilock... with... &pstraaght ahead. ahead. the cliif we are talking about looms so large -- seasoned economists don't want to dwell economy in the first year.--- - [peterrmorici sound]in 36:38 "thh president and congress are going to be very busy from november 15th till around christmas to resolve these issues."trt=:07a blow to the economy that could reel america back into the grips of a deep recession.[take graphic called "fiscalcliif" eric's shaae folder]the lifffincludes reductions tt defeese, expiration of bush era tax cuts, the end of the payyoll &ptax holiday, extended reimbursemmnt cuts to doctors. perraas with [pll
threat to the schools and the northern virginia economy is sequestration. economists predict up to a half million jobs could be lost in the d.c. area. that would lead to vacant buildings and a sharp decline in commercial real estate taxes which is a major source of funding for local governments. foust grew up in johnstown, pennsylvania where steel mills created a bustling economy. today the mills are abandoned and jobs are scarce. >> it has certainly been nice to have the federal government fall back on the government contractors and government employment, but personally i'm from an area that relied on the steel mills until it was too late and there was no diversification. the steel mills closed. i don't want to see that happen to fairfax county. we want to diversify our economy and be less dependent on government contracting in the long run. >> reporter: peggy fox, 9 news now. >>> a passenger's erratic behavior causes a united flight bound for dulles to make an emergency landing. that flight coming from denver had to land 13 minutes earlier last night. we talked with one passenger who w
budget office says automatic tax increases and deep spending cuts could send the economy into a deep recession. >> on tuesday night, we found out that the majority of americans agree with my approach. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> still, john boehner has left the door open to finding new revenues by reforming the tax code. >> both sides will be looking for ways to claim victory without causing too much trouble for their respective party basis. >> both sides can at least agree on this. the nation cannot plunge off the fiscal clef. -- cliff. >> the president is encouraging congress to go ahead and extend tax cuts for middle-class americans while negotiations continue on the rest of this. >> so what is the fiscal cliff and how could impact your money if congress does nothing? the truth is, it could affect everything from your dog to your 401k to your wallet. -- your job to your 401k to your wallets. it could translate into your taxes going up by $3,500 next year. >> more will be taken out of your check. you'll have le
on how people are surviving. >>> now the election is over and time to focus on the economy. what the president is doing about that today on his friday, november 9th. >>> and thank you for joining us. a long week. >> you think about so much going on the nor'easter, the election, we have been with you every morning. tgif! [ laughter ] >> you want to know what the weather will be like. a lot of spots over that and we're meeting that. 38 degrees. and the winds will slowly start to calm down. nothing like we felt the day before that. >>> the we'll stay this way throughout the day and plenty of sunshine. temperature at 53 degrees. megan and charlie over to you. >>> workers are attempting to fix that water main break. they made some progress by digging up the asphalt to get a look under it. the problem they face is how to close the break. and water was gushing. >>> this will be affecting your commute throughout the course today on friday. lauren has been watching the roads telling us what to avoid. >> this break is massive. and repairs are underway, that will be between penn station and
the economy, and first term proves it doesn't work and if he does it again, there's no way he's going to get high growth. >> paul: and what political would you expect, to say, okay, this is a move to the middle. >> you can see how he responds to john boehner, said this week, signaled that he's willing to accept maybe the government will collect some more revenue, but let's not raise tax rate. let's get rid of deduction and benefits of simplicity there and thinking about trying to get economic growth. i think if the president responds by saying let's do a bipartisan reform instead of demanding trillions in new tax revenue, then i think that would be a good thing. >> paul: one of the thing boehner, my sources are saying, they would like to do is to get the president extend the bush tax rates for another year to avoid an immediate blow to the economy and time to negotiate a larger tax reform and entitlement deal. if the president insists, said, look, i litigated taxes in the election, tax rates are going up right away and automatically are and i'm going to insist on that, then do you think we'r
economy energy eyes jiesed by simpler tax codes with fewer loopholes and lower rates for all? so his increaseded revenue is lower rates or dynamic scoring, i don't know. but i think he was able to pivot on his spin but in terms of the substance i don't think he's moved. >> i'm glad that you read his words because i do think that is what the republicans mean by revenue. the theory -- and it's a theory and there are detrack tors of this theory and supporters of the theory which is if you have lower tax rates, there will be more economic growth and activity which will in turn result in additional tax revenue into the u.s. treasury. and again, it really comes down to whether you buy into that theory. the republicans hold that theory and believe in it. the other side of the aisle doesn't believe in that theory to the same degree that the republicans do. so it almost comes down to what stan said is do you have steal mate over the i'd olingses and i think we all know that with the senate becoming a bit more liberal and the house becoming a bit more conservative that those are going to clash
into the economy -- did not sell much creating jobs -- i am focused on trading business for the small people -- the people trying to become middle- class. there would have been more going around it. everybody has ideas. the thing we need to focus on is seriously alternative fuels. with alternative it feels, -- alternative fuels, other people can have a chance to put their idea not so much in big oil -- everybody gets a piece of the pie. host: on your comments about how much money was spent. here is "usa today." on the issue of whether or not the big wealthy donors cut their money's worth. go ahead shirley. caller: the people in this country are so tired of the fighting in the washington. like the one candidate said, if they do not do their jobs, they do not get paid. we, the people, have to start taking these matters into hands. we are sick of it. what i would like to tell john boehner is, do not cave in to the craziness. this is nothing but craziness. i watched harry reid yesterday. he talked and talked and really said nothing. i thought to myself, all you do is dance around these bills tha
people is the wrong prescription, given where our economy is. >> reporter: but raising taxes on the wealthy was a central issue of president obama's campaign. he talked about it in every, single campaign speech. >> the wealthiest americans got tax cuts. tax cuts. try a tax cut. another trillion dollar tax cut that favors the wealthy. >> reporter: in her exclusive interview thursday, diane sawyer pressed the speaker on that. >> 60% of the voters have said that they are ready to raise these taxes. they are ready to have the wealthier americans pitch in here. >> i said yesterday that raising tax rates is unacceptable. >> reporter: the looming fiscal crisis has already affected financial markets, helping drive the dow below 13,000 for the first time since september. if a deal is not struck, virtually every american taxpayer will see a substantial increase in their taxes starting january 1st. during the last negotiations, speaker boehner's hands were tied because tea party conservatives opposed compromise. here's what he told george back then. >> there's no daylight between the te
it laid out his economic plan for how to build an economy, strengthen the economy. that is obviously a central focus of not just the next few weeks, but the next four years. part of that is to reduce the deficit in a balanced way. obviously we have some deadlines approaching. one of the messages sent by the american people throughout the campaign, as jim misener mentioned, clearly shows the president's view of making sure that the wealthiest americans are asked to do a little bit more in the context of reducing our deficit in a balanced way. it is clear that the voters did not be a compromise as a dirty word. it is essential for democracy. balance is another important component. hopefully in the aftermath of the election our leaders in both parties and around the country will do the right thing here to help move our economy forward. as the president often said during the campaign, we've got a lot more work to do, but we have made progress, and we have to build on that. this is one component of how we do that, moving forward. >> always curious, did you ever think michigan was seriousl
the recession during 3 year debt crisis thanks in part to the strength of largest single economy which was germany. >> the 2012 edition of a popular wine made in france is being released today and to celebrate people in japan got into a tub filled with the young fruity wine. distributed every third thursday. more than 15 million bottles. >> there's like a baby in there. >> more than 15 million bottles were exported. the two most popular destinations were japan and the united states. it's a tradition get in a tub. >> hopefully they are not going to rebox that. >> stay in the tub and possibly your skin too. >> wouldn't you come out of there so sticky? >> isn't that a waste of wine? >> a lot of questions about that story. >> that's wish i never get into. >> all right. it's nice and cool. probably don't want to go swimming in a pool unless it's heated and inside. as temperatures later today on the cool side. yesterday 49 as a daytime high. 40s to about 50. >> a little chilly yesterday. >> and that was with sun. it's going to feel cooler than yesterday. lots of 30s outside the beltway. and
. it won't be disastrous. the bigger picture is the jolt to the economy, may not be immediate couldn't cause the economy to kick back in to a recession, minus point 9%, to minus 3.5%. maryland has more to worry about. tax rates are going to go up. we will r a state that works closely with the federal government. any cut backs, in nondefense and defense will impact maryland more so than kansas or indiana. >> leaders come back in session today, while we see expiration going to be in session 16 days. can you realistically see them coming up with a resolution? [technical difficulties] >> two years we have been watching this, republicans in the house, democrats in the isn't and the president, kind of going back and forth with this, it's a stare down of sorts. nothing has changed. when congress comes, in nothing has changed. >> realizing that, but something has changed. the u.s. re-elected an individual for the first time, second time, with high unemployment rates. there is a mandate to continue on to his policies. congress, there were slight shifts in the numbers. overall, there is a sens
-called fiscal clef that could plunge the economy back into recession. he is expected to urge congress to pass a bill preventing bush era tax cuts from expiring for all but the wealthiest americans. the newly reelected president and congress face the january 1 deadline to avoid a combination of tax increases and spending cuts that all sides agree would undermine the military and other basic government functions. here's a closer look at how dire that nightmare scenario could be of nothing is done. a report from the congressional budget office says the jobless rate would jump to 9.1% if no deal is reached. analysts say it would cut the federal deficit by more than $500 billion by next september. the adjustments would also cause the economy to shrink by 0.5% next year. but now that the election is over, washington's power players are figuring out what the future holds. secretary of state hillary clinton and treasury secretary timothy geithner have expressed the desire to step down. today, u.s. attorney general eric holder spoke with students at the university of baltimore. he said he will have to
issue facing the u-s economy... the fiscal cliif? patings aggncy fitch fired a - it will downgrade the u-s credit rating if congress does pothing and the economy goes over the edge.as one analyst put it today, if therr's no resolution, stocks will plummet and the econnmyywill drown in quicksand.that all senttthe dow tumbling 311- points... the biggest decline - offthe year.we did seeesome individual sectors post big moves... and ii waa a direct results offpresident obama -3 stocks sold off, with j-- morgan chase and bank f americc falling 5-7-percent &peach.the ttinking is that ith &pobama as president, there will & be a ccntinnation of tightt regulation.on tte flip side, hospitals posted the biggest gains among n-y-s-e isted commanies.tenet, h-c-a, and other ssrged 10 - percent -3 pach... because one thing is --3for sure... obama-caae is here to stay.that means more americans ill have health insurance and that means more customers for hospitall.thht's & a wraa of a tumultuous dayyon wall street.aliion kosik, att the new ork stock exccange. & 3 ccm
of not reaching a deal would be devastating to the u.s. economy but they don't have a lot of time here. >> no, they don't. the president spoke on this today, not mentioning what was going on behind the scenes with the cia. consider the timeline here. there are only 53 days now left for congress to get to work and get this deal done in order to raise the debt ceiling this year congress put this countdown clock in effect and it has now unt january 1 to get it done. if nothing gets done, your payroll taxes could go up. the bush era income tax cuts would end and 449,000 defense industry jobs across virginia, maryland and d.c. could face layoffs if these automatic pentagon cuts are allowed to go forward. at the white house this afternoon the president spoke in front of what the administration called average americans. those special era tax cuts would expire. add to that deep spending cuts that will kick in. all of this has economists warning tonight of a double dip recession and possible rise of the unemployment rate up to 9.1%. >> the american people are looking for cooperation. they are looking
the least positive impact on our economy. >> reporter: what is important to remember about that is almost two years ago, the president flatly said he was not going to go along with extending bush tax cuts for families making more than $250,000 a year. the president was asked again today. he said listen, that was a one- time situation. the president's words, the country is in a much different place economically, he said, than it was then and keep in mind, the president is not facing voters ever again, will. so this is a situation where the president said this time he means what he says, and we're going to have to see the next six weeks whether he backs it up. >> all right, tom fitzgerald, thanks for the update. shawn. >>> within five years, d.c. hopes to create 100,000 new jobs and bring in more than $1 billion in revenue. it's a big goal and big number. is it possible? if so, will the jobs go to locals who need them? fox 5s matt ackland has more on d.c.'s economic equipment strategy. >> reporter: the sweet sound of construction can be seen all over the district. all you have to do is look
inject a lot of money inside the economy very fast. there's a lot of people that's got money that's invested, can't take money out, that can use the money for other things, for buying extra properties, getting the economy simulated that way. i just feel that if they let you take your own money that you saved and worked hard for and let you pull it out without being taxed to death, that would actually help the middle class more than cutting taxes on the other end. and i don't know what the other people that's in my situation feel that way, but i think somebody should say, ok, 401-k's, you got three years to take this much out, this was the limit, and we're going to tax you this much if you do not take advantage of this and we go back to the way it was. host: thanks. johnny in texas makes under $250,000 a year. johnny, you're on the "washington journal." caller: yes, die make under $250,000 a year, and i think the bush tax cuts ought to be suspended. host: do you think that the election gives the president a mandate on taxing the rich? caller: i definitely do. it's a mandate, becaus
economy while keeping the financially troubled economy on the eu currency system. thousands of protesters demonstrated and clashed with police in riot gear as they protested the new budget that calls for spending cuts and higher taxes. tomorrow eu finance ministers will meet. the greek economy prices will be the center of those talks. >>> in florida today a rally on behalf of a bethesda, maryland man being held in a cuban prison. demonstrators gathered in west palm beach where the national symphony was making its first u.s. tour. they're protesting the imprisonment of alan gross, serving a 15-year sentence on charges he was trying to undermine the cuban government. gross says he was merely trying to provide internet service to the small jewish community in cuba. there was a letter signed by 500 rabbis and addressed to cuba's president. it calls for gross' release on humanitarian grounds. >>> residents could have their electricity back, but tens of thousands of homes and businesses were too damaged to receive it. residents of those homes are now scrambling to find temporary housing. real e
increases and spending cuts when the u.s. economy is not capable of sorting it. >> we ask what that means for your wallet. >> for the average person, it means as the year and rolls around, you will end up paying more. >> nearly 90% of u.s. households could see their taxes go up around $3,500 next year. >> the impact would be pretty substantial. >> couple that with the cuts to domestic programs and defense. >> think of the coffee shop across the street from the plant that makes weapons. impact everything from yourthe ripple n communities, families, workers. >> the uncertainty could even have an impact on holiday sales. >> a lot of people are anticipating this going into the holiday season. people may reduce their holiday buying. >> the fiscal cliff could cause the economy to slide back into recession and raise the unemployment rate to 9.1%. >> the bottom line is, markets already saying, we are not sure what is happening here. the ultimate irony is this would have happened regardless of who got elected president. >> president obama is urging congress to act to avert this fiscal cliff. he is
,000 a year. and that makes no sense. it would be bad for the economy and it would hit families that are already struggling to make ends meet. fortunately, we shouldn't need long negotiations or drama to solve that part of the problem. while there may be disagreement in congress over whether or not to raise taxes on folks making over $250,000 a year, nobody-- not republicans, not democrats-- want taxes to go up for folks making under $250,000 a year. so let's not wait. even as we're negotiating a broader deficit reduction package, let's extend the middle-class tax cuts right now. let'do that right now. ( applause ) that one step, that one step would give millions of families, 98% of americans and 97% of small businesses, the certainty that they need going into the new year. it would immediately take a huge chunk of the economic uncertainty off the table. and that will lead to new jobs and faster growth. business will know that consumers, they're not going to see a big tax increase. they'll know that most small businesses won't see this increase. and so, a lot of uncertainty that
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